Two Years and Twenty Minutes

I've been drop-spindling this bump of roving, off and on, for two years.  It's a blend of silk, mohair and merino.  I'd take it out and work on it while teaching, so it lived in my teaching bag, where I'd forget all about it in between classes. 

I was looking for something in the teaching bag when I saw it again, and noticed that I had only one tiny floof left to spin.  So twenty minutes later, all that on-again-off-again attention paid off: I had enough singles to make 860 yards of laceweight. 

Abby Franquemont says that spinning wheels are faster by the hour, but spindles are faster by the week.  She's right: it's the work that you have with you that really gets done.

Which brings me to my next question:  What should I knit with 860 yards of orchid-colored 2ply laceweight?  Note: I'm NOT an expert lace knitter.  More like "Ignorant Enthusiast" level.  And I totally don't understand shawls (which I know is a problem all of its own).  Insert suggestions here.